State Guarantee Program Fuels SME Lending: 79 Billion Hryvnias Disbursed by 28 Banks

State Guarantees for SME Support

According to Мінфін: A portfolio-based state guarantee program designed to assist micro, small, and medium-sized enterprises (MSMEs) continues to yield positive outcomes. As of February 1, 2026, a total of 28 participating banks are servicing 20,711 loans collectively worth 79.3 billion hryvnias. This financial instrument has become a crucial source of support for businesses navigating a challenging economic landscape.

Lending Activity During Wartime

Since the onset of the full-scale war in Ukraine, 47,741 loans totaling 172 billion hryvnias have been issued under this initiative, highlighting strong demand for financing among MSMEs. In January of this year alone, 559 guaranteed loans were approved, amounting to 2.8 billion hryvnias. Overall, from December 2020 onwards, the program has facilitated 52,891 loans exceeding 182.6 billion hryvnias, demonstrating the sustained effectiveness of the state guarantee scheme. Such programs are vital for maintaining economic resilience during periods of conflict and instability.

Financial backing for Ukraine's micro, small, and medium-sized business sector is a key factor for economic stabilization, especially amid ongoing military actions and economic crisis. The rising number of loans issued confirms that the state guarantee program is in high demand among entrepreneurs, which can foster business recovery and development nationwide.

Continued monitoring and analysis of the program's effectiveness will help assess its broader impact on Ukraine's economic situation.